On January 1, Year 1, Charlotte Curtis started Curtis Company as a sole proprietorship with an initial investment of $80,000. During Year 1, the business earned $60,000 in cash revenue and paid $45,000 in cash expenses. During Year 1, Ms. Curtis withdrew $7,000 for her personal use.Required:
Using the above information, prepare an income statement, a capital statement, and a balance sheet for the Curtis Company.

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The Answer of On January 1, Year 1, Charlotte Curtis started Curtis Company as a sole proprietorship with an initial investment of $80,000. During Year 1, the business earned $60,000 in cash revenue and paid $45,000 in cash expenses. During Year 1, Ms. Curtis withdrew $7,000 for her personal use.Required:
Using the above information, prepare an income statement, a capital statement, and a balance sheet for the Curtis Company.

On January 1, Year 1, Charlotte Curtis Started Curtis Company